notes to the financial statements - Far East Orchard Limited

NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2008
27. Deferred income taxes (continued)
68
The movement in the deferred tax assets and liabilities (prior to offsetting of balances within the same tax jurisdiction)
during the year is as follows:
The Group
Deferred income tax liabilities
Accelerated tax
Asset
revaluation
depreciation surplus Other Total
$’000 $’000 $’000 $’000
2008
Beginning of financial year
(Credited)/Charged to
964 23,797 1,280 26,041
- income statement (19) (111) (484) (614)
- equity - 3,093 - 3,093
End of financial year 945 26,779 796 28,520
2007
Beginning of financial year 1,406 10,997 1,362 13,765
Effect of change in Singapore tax rate
- income statement (141) (160) (136) (437)
- equity - (940) - (940)
(Credited)/Charged to
- income statement (301) 1,562 54 1,315
- equity - 12,338 - 12,338
End of financial year 964 23,797 1,280 26,041
Deferred income tax assets
Tax losses Other Total
$’000 $’000 $’000
2008
Beginning of financial year (1,000) (700) (1,700)
Charged to income statement 777 700 1,477
End of financial year (223) - (223)
2007
Beginning of financial year - - -
Credited to income statement (1,000) (700) (1,700)
End of financial year (1,000) (700) (1,700)
ANNUAL REPORT 2008 ORCHARD PARADE HOLDINGS LIMITED